Daniel has been working hard for years, always putting in the extra hours to make sure the job is done properly. Unfortunately, every time he asks for a raise, his boss always has a way to shut down the conversation. Not enough money, margins are too tight, too much uncertainty. Pick an excuse, Daniel has heard it. It’s not that he minds the work – or thinks his boss is lying to him – Daniel has always taken pride in everything he does. The problem is, he feels undervalued and a little underappreciated. The place couldn’t run without him.
How to choose between all of these businesses that promise so much? Daniel thinks about the kind of life he wants to live, and the earning potential of the various franchises he can choose from. All require time and investment, but there is one group in particular that resonates with him.
Jim’s Group does not promise the world and in fact, they make it very clear that they only select people who have the right attitude to succeed in a competitive marketplace. The other companies give Daniel the impression that anyone with enough money can join, and that makes him suspicious.
The franchise that Daniel favours, is Jim’s Financial Services. Jim’s Group takes excellence, and customer service very seriously. Plus, they offer a lot of support and training to make sure their franchisees not only get the job done properly, but are fully empowered to work for themselves. Daniel finds this appealing as it reflects his own work ethic. Knowing that his hard work will be rewarded gives Daniel all the motivation he needs to make the call.
The franchisor lets Daniel know about an information evening that he can attend in the next month. Information evenings are where potential franchisees get information on what they can hope to achieve by becoming part of the Jim’s brand, and the kind of standards they’ll have to meet to be accepted as a franchisee.
Daniel likes what he hears and realises that if he’s up to the challenge, the rewards will be very worthwhile. However, it’s clear that at first, things won’t be easy. Daniel understands that working for Jim’s will require a lot of preparation and investment on his behalf. Nothing I can’t handle, he thinks.
The next stage involves research and lots of it. Daniel looks at his area and takes stock of all the other businesses who are offering a similar service to him. He also examines the costs he expects to incur as his business gets started,
After getting a good handle on the basics, Daniel goes for an interview with the franchisor. Having put the work into his research, Daniel manages most of the questions with ease, and is invited back for the next stage.
Because Daniel wants to get involved with Jim’s Financial Services, he has the choice of up to three franchises to take on. Jim’s Financial Planning, Jim’s Home Loans and Jim’s Vehicle Leasing. Of course, Daniel decided what franchises were right for him in the preliminary stages. Given his options, he thinks that the best move is to start a Jim’s Vehicle Leasing franchise and a Jim’s Home Loans franchise.
The Jim’s Vehicle Leasing franchise should be able to provide an income nearly straight away, while the Jim’s Home Loans franchise is a mid-to-long term investment with excellent earning potential. With these two goals in mind, it’s time for Daniel to plan his businesses.
Daniel’s franchisor looks over the business plans, and together, they make a few small adjustments. Now, with everything in order, it’s time for Daniel to get some experience and training in the field. However, before Daniel can become a licensed, Jim’s mortgage professional, he has to take a course in mortgage broking and financial planning. This takes about six weeks.
The franchisor partners Daniel with two experienced mentors. One for vehicle leasing and one for home loans. Daniel spends the next few months shadowing his mentors and learning everything he possibly can.
After a while, Daniel feels confident that he’s ready to go out on his own, so he leases a new office space and starts cultivating leads.
The first few months of Daniel’s business are stressful. However, he finds working for himself is all the motivation he needs to stay focused.
Some early leads for the vehicle leasing franchise are realised, and all of a sudden, the first money is flowing into his bank account. It’s not much at first, but already Daniel feels the promise of the future.
After a couple of weeks, he gets his first client for Jim’s Home Loans. Daniel throws all of his efforts into getting the job done as best he can, knowing that:
- Informal referrals are a great source of business
- Home loans can take up to 8 months to start returning a profit.
Two years later, Daniel has a list of satisfied customers and an income stream that is growing steadily. Not only that, he is starting to feel like a genuine expert in his profession.